It is absolutely insane trying to predict the day-to-day moves. As a great example, check out the Banks today as the KBW Bank Stock Index went from huge underperformer to outperformer today in the past hour(ish). Same for Industrials and Small Cap Russell 2000.
It is interesting how the market is ripping higher, yet the CBOE Volatility Index (VIX) is UP 5% on the day. Usually the VIX sees that kind of drop when the market is moving higher. I guess it is time to see if it is. Of course we will let you know what we find if the day closes that way.
Past performance is not a guarantee of future results. Index returns are unmanaged and do not reflect the deduction of any fees or expenses. All data points are sourced from Bloomberg as of 7/13/20 unless noted otherwise.
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